Fortis has become the target of a takeover battle that includes offers from China's Fosun International and Malaysia's IHH Healthcare. Both offers, however, are non-binding as yet. The other two offers -- from local rival Manipal Health Enterprises and a consortium of two prominent Indian business families, Hero Enterprise and the Burman Family Office -- are both binding. (Filepic shows a Fortis hospital with the logo at the front couter)
KUALA LUMPUR: Affin Hwang Capital Research has reaffirmed its “buy” rating on IHH Healthcare with a 12-month discounted cashflow-derived target price of RM7.10.
It said that after the 31% decline in 2017 core net profit, it believed the worst is over and that IHH should benefit from an earnings recovery, driven by the ramp-up of new hospitals.
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